Corp. insiders selling jumped from a lowly 9:1 to 38:1, mostly tech and finance stocks. And the Public shorting was raised to 8.3 over remaining Specialists.
Michael Santoli, one of the brighter lights at Barron's, cites the increase of long positions by commercial hedgers (which he calls "smart money") to a multi-year high.
Here are the latest stats:
Mktsentiment. 7/13/2007......5Yr.HI........ LOW
DJIA ………. 13907...........13668...........7286
Nasdaq………. 2707............2627.............1114
S&P500…….. 1557............1536............776
CBOE Eq. put/call ….53............87-5/04........46-1/03
VIX ………. 15.1..........44 9/02........10.0-7/05
ISEE-call/put ……. 57...........299-12/04.......57 - 7/13/07
(>200/Bearish)
McClel Osc……………18...............91-5/04.........(81)-5/04
McClelSum…………… 243..........1568-6/03.......(726)-5/04
Newsletter Surveys:
Inv.Intel -Bull:…..…. ..49.5...........62.9-12/04......35-6/06
Bear:………… 21.3 .........38.2-3/03.......16-6/03
AAII-Bull/Bear ………49.5/21.3....n/a n/a
MarketVane Bulls…. 65......... 74..............24
IBD: Short Interest- ….7.52……7.82………. 4.0
Public/NYSE Spec.-…..8.36………13.15……….1.0
Birinyi Blogger
Bull/Bear Poll …………36.0/32.0
Bullish%- ……….…74...............88 -2/04...... 46-8/04
*Insider corporate sellers..38:1
Sectors: Most Buyers: Technology
Most Sellers: Technology,Finance
With record numbers of dollars coming out of Money Market Funds, mostly into the crowded trade of short term bonds, anyone who has a minimal knowledge of covered call options and/or an interest in hedging stock market exposure might want to check out: brentleonard.com for an alternative strategy that is low-risk as well as highly rewarding. For those of you wanting more details and actual trading results, a new book is available for $14.95 at Amazon.com: Zero (IN)Tolerance
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